Yang Mingsheng, Chairman of China Life Insurance Co.

Shanghai, (Hexun.com): Lujiazui Forum 2013 is held from June 27 to 29 in Shanghai, theming at“A New Vision for Financial Reform and Opening Up.” As its official website and organizer of some panel cessions, Hexun.com has a full coverage on the entire event. On the sideline of the forum, Yang Mingsheng, chairman of China Life Insurance Co. told Henxun.cm in an exclusive interview, that his company is not affected by current lacking of liquidity. He also says China Life’s overseas business is majorly in Hong Kong, and products with prices quoted in RMB have quite a profound future.

The following is a transcript of the interview:

Yang Mingsheng: As I mentioned just now, we have overseas investments, majorly in the Hong Kong market. Currently we don’t have investment in other overseas markets.

Hexun.com: Is the proportion of investment in Hong Kong going up?

Yang Mingsheng：Yes, it goes up year after year. There would be more products with prices quoted in RMB after it was introduced to the market.

Hexun.com: Is there a pre-set target?

Yang Mingsheng: Not now. We don’t have a pre-set target. It depends on the development of our entire business, and is subjected to adjustments.

Hexun.com: Do you have any problems in financing, especially at a time when liquidity is being so tight?

Yang Mingsheng: As I said, our products were well-received in Hong Kong. With a RQFII qualification, we can earn profitable return from the RMB in domestic inter-bank market. Consumers in Hong Kong are satisfied, especially when interest rates in Hong Kong and rather low, approaching to zero.

Hexun.com: The interest rate in mainland is pretty high.

Yang Mingsheng: Interbank interest rates are pretty high is a result of contemporary lacking of liquidity, it will soon be over.

Hexun.com: Is China Life affected?

Yang Mingsheng：We are not influenced. It might have huge impacted on small and medium banks.